Brief
Indian Sensex and Nifty slip in early trade as oil prices stay high and IT stocks sell off
Elevated Brent crude and a sell‑off in major IT firms pushed India's benchmark indices lower in early trade on Tuesday.
By Felo News Desk · Published
India's benchmark indices fell in early trade on Tuesday, with the BSE Sensex down 281.95 points to 73,316.21 and the NSE Nifty down 63.15 points to 22,694.60, according to newindianexpress.com.
What happened
The decline came as Brent crude traded 0.74% lower at $115 per barrel, but remained above $114, a level cited as a near‑term market headwind. Foreign Institutional Investors sold equities worth Rs 1,462.49 crore on Monday. Among the 30 Sensex constituents, Infosys, Hindustan Unilever, Tata Consultancy Services, Asian Paints, HCL Tech and Tech Mahindra were the biggest laggards, while Bharat Electronics, Eternal, Maruti and InterGlobe Aviation posted gains.
What the reports add
Geojit Investments' chief investment strategist V K Vijayakumar warned that Brent above $114 and a 10‑year US yield near 4.97% could keep markets in a risk‑off mode, but said improving corporate fundamentals and strong domestic fund inflows should provide support. Ponmudi R, CEO of Enrich Money, echoed caution, noting that elevated crude prices and the upcoming US Federal Reserve policy decision could keep sentiment muted.
What was said
"Brent crude remaining above USD 114 and the US 10‑year bond yield hovering around 4.97 per cent continue to be near‑term headwinds for the market," Vijayakumar told newindianexpress.com. "Indian equity markets are likely to remain cautious amid persistently elevated crude oil prices," added Ponmudi R.
Key facts
- Sensex fell 281.95 points to 73,316.21 in early trade (newindianexpress.com)
- Nifty slipped 63.15 points to 22,694.60 (newindianexpress.com)
- Brent crude traded at $115 per barrel, 0.74% lower (newindianexpress.com)
- FIIs sold Rs 1,462.49 crore of equities on Monday (newindianexpress.com)
- Infosys, HUL, TCS, Asian Paints, HCL Tech and Tech Mahindra were major laggards (newindianexpress.com)
Sources
- [1] newindianexpress.com — originally reported as “Stock markets fall in early trade amid persistently elevated crude oil prices, IT selling”
